🇨🇳🇺🇸 China raises tariffs on US to 125%.
China has indeed raised tariffs on US goods to 125%, escalating the trade war between the two nations.
This move comes in response to President Trump's tariff hike, which increased duties on Chinese goods to 145%.
Key Implications:
Tariff Increase: China's tariff hike from 84% to 125% aims to counterbalance the US's increased tariffs.
Trade Tensions: The move intensifies trade tensions, sparking concerns about the global economy and market stability.
Retaliation: China has vowed to disregard further US tariff increases, signaling a tit-for-tat trade war.
Market Impact:
S&P 500 Futures: Declined following China's tariff announcement.
Hang Seng China Enterprises Index: Rose amid the news.
US Dollar: Dropped over 1% against major currencies.
Global Response:
WTO Involvement: China has lodged a complaint with the World Trade Organization (WTO) over US tariff hikes.
Economic Consequences: The trade war may lead to reduced exports, economic instability, and higher prices for consumers.
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